Core Insights - Huawei's latest nova smartphone, the thinnest in its series, officially launched on December 25 [1] Product Features - The nova 15 series is equipped with HarmonyOS 6 across all models [1] - It features a dual red maple portrait system on both front and back [1] - All models support bidirectional Beidou satellite messaging, while the Ultra version additionally supports Beidou and Tiantong dual satellite communication [1]

Core Insights - Huawei's HarmonyOS has reached over 32 million devices, making it the fastest-growing operating system in smart terminal history [1] - The launch of the nova15 series and various IoT products aims to expand the Harmony ecosystem further [1] - By 2026, HarmonyOS is expected to maintain steady growth, with significant room for improvement in installation rates [1][2] Group 1: Market Position and Growth - Huawei regained the top position in the Chinese smartphone market with an 18.1% market share by Q2 2025 [2] - In week 48 of this year, Huawei's smartphone market share reached 27.81%, leading the market [2] - The rapid adoption of HarmonyOS is seen as a key factor in Huawei's recovery in the terminal market [2] Group 2: Product and Ecosystem Development - The nova15 series features the Kirin 9 series flagship chip and supports Huawei HiCar for seamless connectivity between smartphones and car systems [2] - Huawei's Harmony Home has achieved the highest market share in the domestic smart home market, surpassing the combined market share of the second to tenth brands [2] - The introduction of the Harmony Smart Body Framework (HMAF) in HarmonyOS 6 is expected to enhance application possibilities and user experience [4] Group 3: Future Strategy and Challenges - The next phase for HarmonyOS focuses on achieving 100,000 key applications and breaking through user scale [3] - Attracting more developers and enhancing the native application ecosystem will be critical for Huawei's ongoing efforts [4] - The ecosystem is entering a crucial phase of scale and ecological challenges, marking a significant stage in its development [5]

Core Insights - Huawei held a launch event for the nova15 series and all-scenario new products on December 22, 2023, in Shenzhen [1] - The CEO of Huawei's Terminal BG, He Gang, announced that the number of devices running HarmonyOS5 and HarmonyOS6 has exceeded 32 million, making it the fastest-growing operating system in the history of smart terminals [1] Company Developments - The launch event showcased Huawei's latest products, indicating the company's ongoing commitment to innovation and market presence [1] - The significant adoption of HarmonyOS, with over 32 million devices, highlights the company's successful strategy in expanding its ecosystem [1]

Group 1 - Singapore's National AI Strategy (AISG) has shifted from using Meta's model to Alibaba's Qwen open-source architecture for its Southeast Asian language model project, indicating a significant expansion of Chinese open-source AI models globally [1] - The newly launched "Qwen-SEA-LION-v4" model quickly ranked first in an open-source leaderboard measuring Southeast Asian language capabilities, outperforming Meta's model which struggled with regional languages like Indonesian, Thai, and Malay [1] Group 2 - The establishment of the Commercial Space Administration has been confirmed, which will integrate various functions related to the satellite industry, enhancing coordination and efficiency in commercial space launch approvals and satellite operation licensing [2] - The first flight of the medium-sized launch vehicle is imminent, supporting large-scale satellite constellation networking, with over a hundred satellites already in orbit [2] Group 3 - AI-driven high-performance computing (HPC) is increasing the demand for advanced packaging technologies, with cloud service providers considering a shift from TSMC's CoWoS solution to Intel's EMIB technology to accommodate more complex module integrations [3] Group 4 - The launch of the Zhuque-3 rocket by Beijing Blue Arrow Aerospace is scheduled for November 29, marking a significant milestone in China's manned space program [4] Group 5 - A new national standard for mobile power supplies is set to be implemented, which is expected to increase industry costs by 20%-30% due to higher quality component requirements and hardware upgrades [5] Group 6 - Huawei has officially launched the Mate80 series, with prices starting at 4699 yuan for the Mate80 and 5999 yuan for the Mate80 Pro, featuring the new HarmonyOS 6 [6] Group 7 - Beijing's AI Industry Investment Fund has invested in Pixel Bloom Technology, a developer of AI office tools, increasing its registered capital from approximately 2.85 million yuan to about 3.33 million yuan [7] Group 8 - LG Chem has announced a breakthrough in solid-state battery technology, improving battery capacity by approximately 15% and high-rate discharge capacity by about 50% compared to existing electrolytes [8] Group 9 - ADATA's chairman has indicated that the demand for memory chips, particularly DRAM and NAND Flash, is at a 20-year high, with supply shortages expected to persist into the first half of 2026 [9] Group 10 - Carl Power has unveiled a comprehensive solution for unmanned freight transport, with plans to begin demonstration operations of its first "transport robot" in the first half of 2026, aiming for 1 million units on the road within the next decade [10]

Group 1 - Singapore's National AI Strategy (AISG) has shifted from using Meta's model to Alibaba's Qwen open-source architecture, indicating a significant expansion of Chinese open-source AI models globally [1] - The newly launched "Qwen-SEA-LION-v4" model has quickly ranked first in an open-source leaderboard measuring Southeast Asian language capabilities, outperforming Meta's model in processing regional languages like Indonesian, Thai, and Malay [1] Group 2 - The establishment of the Commercial Space Administration is confirmed, which will integrate various functions related to the satellite industry, enhancing coordination and efficiency in commercial space launch approvals and satellite operation licensing [2] - The first flight of the medium-sized launch vehicle is imminent, supporting large-scale satellite constellation networking, with over a hundred satellites already in orbit [2] Group 3 - AI-driven high-performance computing (HPC) is increasing the demand for advanced packaging technologies, with cloud service providers considering a shift from TSMC's CoWoS solution to Intel's EMIB technology for better integration of complex functions [3] Group 4 - The launch of the Blue Arrow Aerospace Zhuque-3 rocket is scheduled for November 29, marking a significant milestone in China's manned space program [4] Group 5 - A new national standard for mobile power banks is set to be implemented, which is expected to increase overall industry costs by 20%-30% due to higher quality component requirements and hardware upgrades [5] Group 6 - Huawei has officially launched the Mate80 series, with prices starting at 4699 yuan for the Mate80 and 5999 yuan for the Mate80 Pro, featuring the new HarmonyOS 6 [6] Group 7 - Beijing's AI Industry Investment Fund has invested in Pixel Bloom, a developer of AI office tools, following a change in the company's shareholder structure and an increase in registered capital [8] Group 8 - LG Chem has announced a breakthrough in solid-state battery technology, achieving a 15% increase in basic capacity and a 50% increase in high-rate discharge capacity compared to existing electrolyte batteries [9] Group 9 - ADATA's chairman has reported a severe shortage of memory chips due to AI demand, with customers receiving only 30% of their orders, and expects this shortage to persist into the first half of 2026 [10] Group 10 - Carl Power has unveiled a comprehensive solution for unmanned freight transport, with plans to demonstrate its first "transport robot" in 2026 and aims for 1 million units to be operational within the next decade [11]

Core Viewpoint - Huawei launched two new HarmonyOS 6 laptops, the MateBook Pro in Dawn Pink and the MateBook Fold in Extraordinary Master Red, which are designed to generate professional reports such as business plans through a proprietary database developed with ecosystem partners [1] Product Launch - The new laptops are equipped with HarmonyOS 6, showcasing Huawei's commitment to integrating its software with hardware solutions [1] - The MateBook Pro and MateBook Fold are part of Huawei's strategy to enhance productivity tools for users [1]

计算机行业重大事项点评 推荐（维持） 鸿蒙：生态技术双突破，自主底座能力再巩固 事项： ❑ 2025 年 11 月 14-16 日，于深圳举办的第二十七届中国国际高新技术成果交易 会（高交会）上，华为鸿蒙生态以独立展区形式全面亮相，系统展示了其在工 业、安平、医疗、金融等关键领域的创新应用成果。展会集中呈现了鸿蒙生态 以 OpenHarmony 开源项目为共同技术底座，汇聚 AI+分布式安防场景的安平 鸿蒙、具身智能+设备互联场景的工业鸿蒙、设备互联+AI 辅助诊断场景的医 疗鸿蒙、政务+产业协同场景的园区鸿蒙、中移智鸿开源底座场景家庭鸿蒙等 众多行业发行版。 证 券 研 究 报 告 评论： 行业研究 计算机 2025 年 11 月 18 日 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040001 联系人：周楚薇 邮箱：zhouchuwei@hcyjs.com 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 338 | 0.04 | | 总市值(亿元) | 58,692.16 | 4.84 ...

Core Insights - Huawei's HarmonyOS 6 is set to be officially released on October 22, showcasing a new all-scenario interconnection architecture and upgrades to features like Star Flash connectivity and Xiao Yi [1] - The upcoming "Harmony Star Light Festival" on November 28 will highlight China's technological innovations [1] - Institutions are optimistic about the growth prospects of the HarmonyOS ecosystem, driven by increased market share in smart vehicles, advancements in the Harmony ecosystem, and significant technological leaps with HarmonyOS 6 [1] Group 1: Market Performance - HarmonyOS smart vehicle sales have shown impressive performance, with 41,300 units pre-ordered during the National Day holiday (up 44% year-on-year) and 52,900 units delivered in September, establishing a strong foundation for Q4 growth [4] - The high-end market advantage remains solid, with models like the Zun Jie S800 and AITO M9/M8 leading their segments, and plans to expand the product matrix by 2026 to cover the market below 200,000 [4] - The Ministry of Industry and Information Technology plans to implement strong standards for intelligent driving by 2027, with Huawei's leading capabilities in this area translating into market advantages for HarmonyOS vehicles [4] Group 2: Ecosystem Development - The Harmony ecosystem is advancing, with major internet applications fully adapted to Harmony and a growing number of mid-tail applications accelerating integration, leading to over 1 billion activated devices globally [5] - The Chinese operating system market is projected to reach 21.75 billion yuan in 2024, a 13.8% increase from the previous year, with expectations to reach 25 billion yuan in 2025 [5] Group 3: Technological Advancements - HarmonyOS 6 represents a significant technological leap, with a 30% improvement in system smoothness, 1.5GB reduction in memory usage, and nearly one hour of additional battery life [7] - The introduction of the Harmony intelligent agent framework allows developers to leverage edge AI computing for low-latency applications, enhancing the capabilities of intelligent agents [7] - The ecosystem now includes over 1.19 billion devices running HarmonyOS, with more than 7.2 million developers and over 50 pioneering intelligent agents in development [7] Group 4: Future Outlook - The maturity of the Harmony ecosystem and the launch of new products are expected to strengthen Huawei's leadership position in the global smart transformation [8] - Continuous attention is warranted on the commercialization of HarmonyOS for PCs, the AI computing industry chain, and the progress of vertical industry applications [8]

Core Viewpoint - Huawei officially announced that HarmonyOS 6 will hold a special launch event on October 22 at 14:30, focusing on five core directions for the system upgrade: better aesthetics, improved usability, enhanced intelligence, increased security, and smoother performance [1] Group 1 - The launch event for HarmonyOS 6 is scheduled for October 22 at 14:30 [1] - The upgrade of HarmonyOS 6 will focus on five key areas: better aesthetics, improved usability, enhanced intelligence, increased security, and smoother performance [1]